Entrepreneurship - More than an Instinct!

Entrepreneurship Moving on to the 'Spirit' of an organisation, Entrepreneurship can be considered a learned skill as much as an innate instinct! Don’t confuse Entrepreneurship with making money! There are lots of people who have made a lot of money but are hardly Entrepreneurs. In reverse, there are many Entrepreneurs who have not made money from their creative ideas and methods. Entrepreneurship is creating value in the lives of people and within the broader community. It involves forming and developing a creative idea and pursuing a process to make it available to those who need or value it. I will discuss the mechanics of developing ideas, and being creative, in a later post. Here I want

Business Finance - 3 Golden Rules

B Looking at the ‘Brain’ Centre of the business, or the Financial Management, there are a few golden rules or common sense practices that are worth mentioning. 1. Income > Expenses. The first Golden Rule of business is to earn more than you spend! Some business people lose sight of this. I have even had business partners who didn’t understand this concept! When you price a product to sell, make sure you have covered all your expenses and outgoings in your calculation; and don’t forget to add a profit margin! It is very important to have a good accounting/bookkeeping system to track income, expenses, profitability of each key areas of the business, creditors and debtors, tax obligations and y

How does Personal Development relate to the success of Management?

It is fairly clear that it fits into the ‘Nervous System’ or ‘Operations Management’. I have often been asked by students and colleagues why it's important to understand concepts around ‘personal development’. Why do Managers need to understand goal setting, time management, stress management, planning, communication skills, rapport, networking and health & fitness? The answer is so simple that you can be excused for not getting it! Yet so many managers do not possess these skills. Simply, if a manager doesn’t have their ‘own house in order’, then how can they manage, organise and motivate others? How can mangers who are disorganised, lack direction and are apathetic, run a business? Sadly,

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